The Valkyrie Rocket is a shoulder-launched rocket that the player fires from a launcher and then guides toward a target of their choosing, but is much harder to steer than an RC-XD, since the RC-XD can go forwards and backwards and even stop.

The launched rocket can fly for 15 seconds, or for five seconds when boosted. It can explode anywhere the player wants it to. Attempting to steer the rocket upwards into the sky then diving it down works in some cases, however the player must keep in mind not to go too high, as the controller signal is limited: when a rocket is out of range, the player loses vision and control of rocket, and the rocket explodes.

The rocket can be detonated in-flight by pressing the fire button. Although this may seem a waste, it is useful for when the rocket is about to pass by a player but does not have the time to turn.

In the level "Executive Order" to shoot down Soyuz-2 after the team fails to prevent its launch. It was a prototype at this time, as "That's one hell of a way to test a prototype!" was remarked upon Soyuz-2's destruction.

In the level "Redemption" to shoot down the two Mi-8 Hip helicopters. If the two helicopters were taken down with one rocket, the "Double Whammy" achievement unlocks (Replaced by Strela-3 on the Wii).

Upon getting a seven killstreak, the player is given an airdrop marker which will summon a transport helicopter to drop a package containing the launcher and two rockets. After being fired, the Valkyrie cannot brake or reverse but can be given a speed boost. Striking walls or other physical object will cause the rocket will explode, usually resulting resulting in no kills unless target(s) is within the blast radius. The Valkyrie Rocket can also be utilized to shoot down some aircraft or used as an anti-personnel weapon. Without the speed boost initiated, the missile travels rather slowly, requiring a significant amount of time to reach the altitude of Spy Planes. Valkyrie Rockets can be shot out of the air by gunfire, and can be locked on and fired at by fast-moving Strela-3 missiles or the more cumbersome M72 LAW rocket. If the operator switches weapons or is killed while operating it, the Valkyrie will be lost. It is relatively unpopular online, as it is both difficult to control, and it is unlikely to get more than two kills, even though it is a seven killstreak. A particular operational tactic is to both treat and fly the rocket as if it were a Predator Missile, launching the missile into the until it reaches an optimum altitude before angling back towards the ground, allowing a better visual of the entire map, obstructions and enemies. Bear in mind that this tactic may be difficult to perform effectively due to the fact the missile is cumbersome to control, is limited on fuel and the user may lose a sense of direction for a brief period of time.

Damage-wise, the missile has a blast radius of 7.5 meters with 400 damage at the center and 100 damage at the edges. This results in an automatic kill of all enemies inside the blast radius not using Flak Jacket; however, as it does 400 damage, it can kill enemies using Flak Jacket in a radius of 2.85 meters.

Although uncommon, it's possible to lock-on to and shoot down Valkyrie Rockets; however, due to the speed of the rocket and the unlikelihood of any major kills, it is not something one should worry about if using the killstreak. However, try to stay out of the path of enemy SAM Turrets, as it will lock-on to and shoot the Valkyrie down.

The Valkyrie Launcher returns in the campaign level "Pyrrhic Victory", being used by Mason to shoot down a Hind. Unlike other usable weapons in Black Ops II, it is not available in the customizable loadout. It should be noted that the Valkyrie Launcher can take up to 3 shots to destroy the Mi-24 Hind, unlike in previous games where it was one shot.

This killstreak was originally going to be awarded for a five killstreak and named the "Archangel" but was changed.

Originally the icon was white and bright but it was later changed.

The Valkyrie Rocket Launcher appears to be a modified Strela-3 with a controlling device attached. When the player gets to use the Valkyrie Rockets in Redemption, before they pick it up, the controlling device will not flash gold. Only the Strela-3 launcher will flash gold.

Although they appear in the campaign in the Wii version of Black Ops, they do not appear in multiplayer due to the Wii's RAM and technical restrictions.

If the player is killed the moment they launch the rocket, they will lose control of the rocket and it will fly dead straight.

It is possible to destroy a Valkyrie Rocket while it is flying in air. Doing so will award the player a medal called 'Off The Air' and 100 points.

Claymores can detonate and potentially destroy Valkyrie Rockets should one fly close enough.